Arcadia Investment Management Corp MI Reduces Holdings in Starbucks Corporation (NASDAQ:SBUX)

Arcadia Investment Management Corp MI lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,201 shares of the coffee company's stock after selling 3,474 shares during the period. Starbucks accounts for 2.2% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 16th largest position. Arcadia Investment Management Corp MI's holdings in Starbucks were worth $11,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Capital World Investors raised its stake in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC raised its stake in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its stake in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 1.4%

NASDAQ SBUX opened at $94.94 on Wednesday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $107.89 billion, a PE ratio of 34.40, a P/E/G ratio of 4.80 and a beta of 1.02. The stock's 50 day moving average is $88.33 and its 200 day moving average is $94.40.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the firm posted $0.68 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SBUX shares. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stifel Nicolaus decreased their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Barclays reiterated an "overweight" rating and set a $108.00 price target (up from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Starbucks presently has an average rating of "Hold" and an average price target of $98.23.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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